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CITY OF SAN LEANDRO NOTES TO BASIC FINANCIAL STATEMENTS For The Year Ended June 30, 2022 NOTE 14 – PENSION PLAN (Continued) E.Other Information Sensitivity of the Net Pension Liability to Changes in the Discount Rate – The following presents the net pension liability of the City for the Plan, calculated using the discount rate for the Plan, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1- percentage point lower or 1-percentage point higher than the current rate: Miscellaneous Safety 1% Decrease 6.15%6.15% Net Pension Liability 112,681,787$ 112,140,826$ Current Discount Rate 7.15%7.15% Net Pension Liability 72,712,627$ 68,504,096$ 1% Increase 8.15%8.15% Net Pension Liability 39,466,814$ 32,661,913$ Pension Plan Fiduciary Net Position – Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports. Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions – For the year ended June 30, 2022, the City recognized total pension expense of $5,234,058 for both the Miscellaneous and Safety Plans. At June 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Agent-Multiple -Deferred Outflows Deferred Inflows Miscellaneous of Resources of Resources Pension contributions subsequent to measurement date 10,532,119$ -$ Differences between actual and expected experience 1,326,278 - Changes in assumptions - - Change in employer's proportion and differences between the employer’s contributions and the employer’s proportionate share of contributions - - Net differences between projected and actual earnings on plan investments - (24,342,518) Total 11,858,397$ (24,342,518)$ Cost-Sharing -Deferred Outflows Deferred Inflows Safety of Resources of Resources Pension contributions subsequent to measurement date 9,552,942$ -$ Differences between actual and expected experience 11,703,866 - Changes in assumptions - - Change in employer's proportion and differences between the employer’s contributions and the employer’s proportionate share of contributions - (5,202,852) Net differences between projected and actual earnings on plan investments - (40,773,106) Change in Proportions 872,138 (245,901) Total 22,128,946$ (46,221,859)$ 83